Exploring Economics strengthens plural economics and alternative economic approaches.
However, we are running out of money. Currently we have a funding gap of 30,000€.
With a small contribution you can support Exploring Economics to stay online. Thank you!
We are a registered non-profit organization | Bank account: Netzwerk Plurale Ökonomik e.V., IBAN: DE91 4306 0967 6037 9737 00, SWIFT-BIC: GENODEM1GLS | Imprint
Steve Keen discusses DSGE modeling and microfoundations by asking the question if it is ideologically possible to derive macroeconomics from microeconomics. Using the example of the Sonnenschein–Mantel–Debreu theorem, Keen argues that on each level there are new complexities which can't be entirely derived from the level below. Hence, according to Keen, economics mustn't be about equilibrium but about permanent desequilibrium in order to account for economic complexity and dynamics.